Beaumont Down Payment Assistance Program

What is Beaumont Down Payment Assistance Program?

Beaumont Down Payment Assistance Program is a forgivable loan for homebuyers in Beaumont, Texas.

• The City of Beaumont Down Payment Assistance Program, administered by Legacy CDC, provides up to $14,999 as a deferred forgivable loan to first-time homebuyers purchasing within Beaumont city limits. The loan is forgiven at 20% per year over 5 years of owner-occupancy. A minimum buyer contribution of $2,000 is required.
• Up to $14,999 deferred forgivable loan.
• 20% forgiven per year over 5 years.
• Covers down payment and closing costs.
• 2nd lien on property.
• Funding comes from Federal (HOME).

How much assistance does it provide?

Beaumont Down Payment Assistance Program offers up to $14,999 in assistance.

• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Beaumont Down Payment Assistance Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale, Refinance, and No Longer Primary.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Beaumont Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Beaumont Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income between 30%–80% AMI.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Beaumont Down Payment Assistance Program caps the purchase price at $150,000.

• Eligible property types include Single-family.
• New construction is eligible.

Where does it apply?

Beaumont Down Payment Assistance Program serves buyers purchasing in Beaumont, Texas.

How do you apply?

Applications for Beaumont Down Payment Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.